Nigeria to Receive $1 Billion Oil-Backed Loan from Afreximbank to Boost Economy
- Nigeria to receive $1.05B loan from Afreximbank backed by oil next month
- Loan part of larger $3.3B facility, with repayment tied to Nigerian oil cargoes
- Aims to revive Nigeria's economy and boost hard currency in forex market
- Two-thirds of loan already disbursed in January
- Provides Nigeria immediate funds based on future oil production to aid struggling economy
